ibps-so 2020 · Question 325 of 351

What happens to a partner's liability to third parties when they retire from the firm?

AThey are discharged from liability to any third party for all acts of the firm
BThey are discharged from liability to any third party for acts of the firm only if an agreement to that effect is reached with such third party and the remaining partners
CThey are discharged from liability to any third party for acts of the firm after public notice of retirement has been given
DThey are not discharged from liability to any third party for acts of the firm
EBoth (b) and (c)Correct

Answer: E. Both (b) and (c)

Official answer key verified. Detailed explanation coming soon.

Source: IBPS SO Law Officer Mains Memory Based 2020 - Adda247 · memory-based

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